Once you’re operating a cannabis dispensary in a state under METRC (Oregon, Nevada, Michigan, Maryland, Colorado, California, or Alaska), perhaps you’re wondering why you would require another third-party cannabis software solution apart from METRC. Perhaps that’s because METRC is only a reporting tool. It enables you to input data into a site portal for you to report your sales and inventory to the state and keep on being compliant—just that. If you aim to take your business to another level, you should look for ways where you can capitalize on your data and elicit great business outcomes.
In this article, we’ve listed a few of the several why you should get another third-party system to remain competitive and establish your business in this dynamic and erratic industry:
Flexibility
This particular industry keeps on experiencing extraordinary change by applying new regulations and rules, which are in flux all the time, and the possible development of your business in a blossoming and new industry. It is difficult to foresee what you will require in 6 months, 3 years, and even more than that. However, if you have a system that’s extremely customizable and flexible, you are making sure that you will be in safe hands, no matter what may happen over time.
Labeling
Conforming labels are complex. A good third-party system will make it simpler especially if it has a drop and drag labeling too that’s entirely customizable to have all details that are associated with compliance and other details you would want to see like your detail number, address, logo and so much more.
Business intelligence
Try to determine the products that sell the most—be it top-selling budtenders or top producing plants. If you’re planning to boost your business, you require data that you could scrutinize and that would eventually transform into actionable results at the end of the day. A great third-party system will give the most granular trace and track data of cannabis available for each stage of the lifecycle of its seed-to-sale lifecycle, for each type of license.
Record-keeping
Under the regulations of the most state, you can encounter an audit of the inventory records of your business at any particular time and date, with a nominal sign. A good system will make sure that everything you will require to display a compliant and clean operation with ease.
Accountability
If you are a business manager, nothing is more terrifying than having 15 sets of hands that play in a similar system, particularly if that system can immediately affect your compliance. An ideal system provides detailed forensic reports that logs every action done within the system, such as the person responsible and the time/date of the change. You can even limit users from doing particular actions and operate a tighter ship than what METRC reconciliation allows.
Though using METRC can help you remain compliant, it’s not guaranteed that it will give the edge that’s required to contest with advanced operators who are maximizing the newest technology in terms of cannabis inventory trace and track.
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